Search Now

Recommendations

Monday, April 16, 2007

Market may remain firm


The market sentiment may remain bullish on decent earning numbers reported by Infosys in the last week and same is expected from TCS & HCL Tech today. The firm Asian indices in current trades and strong fund inflows in the last few sessions may boost the sentiment of the investors further. The Nifty could test higher levels between 3950and 3980 and may dip around 3770, while the Sensex has a likely support at 13300 and may face resistance at 13500.

US indices rose modestly Friday as upbeat company news gave investors a reason to set aside the day's mixed hints about the economy and run up in Treasury bond yields. While the Dow Jones gained by 59 points to close at 12612, the Nasdaq ended 12 points up at 2492.

The Nymex light crude oil for May delivery slipped 22 cents to close at $63.63. In the commodity space, the Comex gold for June series gained $10.20 to settle at $689.90 a troy ounce.